213,348 Shares in PDD Holdings Inc. Sponsored ADR $PDD Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 213,348 shares of the company’s stock, valued at approximately $24,192,000.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Assenagon Asset Management S.A. lifted its position in PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC purchased a new position in PDD during the second quarter worth approximately $482,273,000. Orbis Allan Gray Ltd lifted its position in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Aspex Management HK Ltd purchased a new position in PDD during the third quarter worth approximately $419,287,000. Finally, SG Americas Securities LLC lifted its position in PDD by 931.4% during the fourth quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock worth $367,171,000 after buying an additional 2,924,176 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 0.2%

PDD stock opened at $99.72 on Friday. The business has a fifty day moving average of $101.41 and a two-hundred day moving average of $111.54. The stock has a market cap of $138.82 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.94 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a 52-week low of $95.24 and a 52-week high of $139.41.

Analyst Ratings Changes

A number of equities analysts recently commented on PDD shares. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Friday, April 17th. Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Friday, March 27th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Morgan Stanley set a $148.00 target price on PDD in a research note on Thursday, January 15th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.67.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.